Listen to this articleA “standout” office building in Bergen County secured refinancing in a deal brokered by Cushman & Wakefield.
The global real estate services firm said it served as exclusive advisor to Bergman Real Estate Group in arranging $22.5 million in funding for 365 W. Passaic St. in Rochelle Park.
Deutsche Bank provided the five-year, fixed-rate loan for the 218,000-square-foot property, according to the Oct. 2 announcement. Cushman & Wakefield Executive Managing Director Brian Anderson and Senior Financial Analyst Eddie Miro advised the borrower in the transaction.
“365 West Passaic is a standout office building with a strong tenant mix and incredible location right across from Garden State Plaza,” Anderson said. “The location is highly connected to the rest of the state and easily accessible to Manhattan, offering a convenient office environment for tenants.”
An NJ Transit bus stop sits directly in front, offering 20-minute service to New York City.
The building also offers proximity to Exit 160 off the Garden State Parkway with immediate access to Routes 4, 17, 46 and 208, as well as Interstate 80:
Underscoring the “great team effort,” Anderson said the group was excited to see momentum continue at 365 West Passaic “as demand for high-quality office space in suburban New Jersey continues to grow.”
In its Q3 2025 Office Market scorecard for Northern & Central New Jersey, Cushman & Wakefield reported the local sector shows signs of ongoing stabilization – despite a downtick in quarter-over-quarter leasing. Meanwhile, nearly 63% of activity went toward Class A office space.
Asking rents were up slightly, according to the CushWake report, to $32.55 per square foot. Pricing for Class A space increased almost 2% year over year to $36.50 per square foot, reflecting a 12.1% premium over average asking rent.
Featuring a full-height atrium lobby, 365 West Passaic stands five stories tall. Features include:
- Full-service café with seating
- Two elevator banks
- Ample surface parking
- On-site ownership and management
Based in Iselin, family-owned Bergman Real Estate’s portfolio encompasses 2 million square feet across 17 New Jersey properties.
A Cushman & Wakefield representative did not immediately return a request for the current occupancy rate at 365 West Passaic.
